（By Liang Yueqin）
Pak Shek Kok land in Tai Po being sold at low price makes luxury properties in New Territories have largely price cut. Yesterday night, China Overseas Land & Investment suddenly announced price list of the last 50 garden villas of The Green in Fanling, in usable areas from 1,328 sq ft to 2,709 sq ft, with sale prices from HKD 15.815 million to HKD 65.421 million, and developer supplies special discount of 5%, privilege of 70% of ad valorem stamp duty for private name buyers and cash return of Buyer Stamp Duty, with the most discount for private name buyer at 21.45%, then the discounted usable area sale prices are from HKD 12.42 million to HKD 51.388 million, largely down about 30% than prices of last batch launched in March 2012.
The Green sold more than 80% of the units in short time when it opened firstly in 2012, and this time they published price list of the last 50 units at sq ft prices from HKD 11,909 to HKD 30,209, expressed by You Weiguang, the Managing Director of China Overseas Land & Investment. Buyers who sign temporary buying and selling contract on or before June 30th will enjoy 5% of special discount, and they also supply privilege of 70% of ad valorem stamp duty and cash return (Only for private name buyers). Besides, the transaction term is up to 150 days. The usable areas of these garden villas are from 1,328 sq ft to 2,709 sq ft, each of which has independent vestibular entrance, private garden and garage.
City Point has received 11,000 applications.
These units of The Green are in high quality, but their discounted prices are lower about 30% than of last batch launched two years ago, reflecting developer's eager desire of clearance sales, and it is believed caused by City Point in Tsuen Wan being put on sale at price lower than second hand property price recently and the large effect to luxury property from BSD and DSD, so they urgent to sell by highly price cut of 30%, expressed by Pan Haomin, the Regional Sales Director of Midland.
As for City Point in Tsuen Wan West Station which will be put on sale this Saturday, the application for its first batch and additional launched units continues. Source pointed, more than 630 applications received yesterday, with about 11,000 cases collected totally, and it will close tomorrow. About Kowloon Development's MacPherson Residence in Mong Kok, market source spread about 20 applications received, with about 370 cases have been collected, and its first batch plus with additional launched units which are totally 102 units will be put on sale tomorrow morning.
Other developers also join into the competition. High Park in Boundary Street and Harbour Pinnacle in Tsim Sha Tsui owned by Henderson and its strong stock holder Lee Shau-kee are holding real estate agents promotion plus commission competition for 7 days. Source pointed, agency promoting above 15 transactions in these two projects from yesterday until June 3rd will earn plus commission of 0.75%, which is 3.75% with bonus at HKD 30,000, while champion agent will has 0.5% more commission, which will be 4.25% with bonus at HKD 30,000, if two have same quantity of transaction then go to transaction amount. Hong Kong Resort International Limited's POSITANO in Discovery Bay will possible open the price today, first batch of which will at least be 60 units.
AUSTIN is preparing the brochure.
GRAND AUSTIN in Austin Station developed with New World is preparing the brochure, and this project has received the sale approval, so they hope to finish the brochure in the following one to two weeks and put on sale it in June, expressed by Liang Zhijian, the Chairman of Wheelock. Although City Point in Tsuen Wan West Station which is also MTR project is being put on sale, but he believed there will be no much competition since they have different customer source.
In addition, high floor administrative section of The Avenue in Wan Chai developed by Sino, Hopewell and so on registered transaction again. Local user purchased room B in high floor administrative section of block 3, which is in usable area of 941 sq ft and at discounted price of HKD 29.46 million, with average sq ft price at HKD 31,308, becoming the second highest sq ft price of this project ( The highest is HKD 31,367). Developer considers to additional launch more units seeing the sales is ideal. Furthermore, Nan Fung's The Visionary in Tung Chung also sold 2 units, room A of 25th floor in block 8 among was sold at HKD 7.83 million.
